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Cotton Lower 3rd Day In A Row

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Cotton Futures---Cotton futures in the March contract is trading lower for the 3rd consecutive session down another 24 points at 70.08 despite the fact that the trade agreement with China has been cemented as this looks to be the classic case of buying the rumor and selling the fact.

The entire agricultural sector is lower today which is hard to explain as the USMCA trade agreement is also being signed this afternoon which is a bullish fundamental factor, but I think the downsides are limited as this is profit-taking in my opinion.

I have been recommending a bullish position from around the 66.60 level and if you took that trade the stop loss now has been raised to 69.05 on a hard basis only as I'm not willing to risk any more than that level at this time.

Cotton prices are still trading above their 20 and 100 day moving average as the trend is higher, however if you take a look at the daily chart the uptrend line has been broken so continue to place the proper stop loss and if we are stopped out we will move on and look at other markets that are beginning to trend.




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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